Fisheries today

• Worm et al(2003): fishless seas by 2050
• About 30% of the world fisheries have collapsed
• The need for policy

A brief history in failure

• Failures of the Commons and Gordon, 1954
• Effort control and capital stuffing
• Gear regulations and efficiency drops
• Area closures and fishing the lines
• Quotas and its allocation

One Agent sample run

Many Agents

Oil Prices

Fish the Line (part 1)

Fish the Line (part 2)

The Quotas Debate

• TAC: Total Allowable Catch
• ITQ: Individual Tradeable Quota

North-South world

Location choices

ITQ incentivates geography

Optimization